It was on Friday that the libertarian Milei published an X-post where he mentioned the cryptocurrency by name and praised a "private project" that would "stimulate growth in the Argentine economy".
After the crash, Milei deleted the post and claimed that he "did not know any details about the project" and did not have any connection to it.
However, according to experts, the story in question is to be regarded as a so-called "rug pull", a type of fraud where developers create a cryptocurrency, lure people to invest, and then quickly sell off and take out as much money as possible.
The programmer and influencer Javier Smaldone, who has made himself known for highlighting and warning about pyramid schemes, calls the move a "global fraud".
So far, the profit has been estimated to be around 107 million dollars. It could be even more, he tells AFP.
At the same time, opposition politician Maximiliano Ferraro demands that Argentina's parliament sets up a commission to "clarify facts and demand accountability".
